Bitcoin (BTC) miners appear to be selling large amounts of BTC once again. Data from CryptoQuant shows that the BTC Miners’ Position Index — a metric tracking the ratio of BTC leaving miners' wallets — achieved a three-year high. This trend indicates that miners are likely selling BTC on over-the-counter (OTC) or spot exchanges.
On Dec. 10, two large miner-linked Bitcoin transactions were spotted right as the Miner’s Position Index abruptly spiked to levels unseen since 2017, according to data from CryptoQuant.